Question: Could really use the help on this problem. Let me know if anything else is needed. Thank you!!! Aug. 2 Sold a bundle of spa

 Could really use the help on this problem. Let me know

if anything else is needed. Thank you!!! Aug. 2 Sold a bundle

of spa services with a merchandise basket. When sold separately, the spa

service part of the bundle sells for $704 and the merchandise basket

Could really use the help on this problem. Let me know if anything else is needed. Thank you!!!

Aug. 2 Sold a bundle of spa services with a merchandise basket. When sold separately, the spa service part of the bundle sells for $704 and the merchandise basket normally sells for $176. Together, the bundle was sold to Val Amy for cash at a selling price of $600 (total). Val booked a spa treatment for August 10, and she took the basket of goods with her. The goods had cost NGS $175. Aug. 3 Sold 5 identical items of merchandise to Cosmetics R Us on account at a selling price of $690 (total); terms n/30. The goods cost NGS $590. Aug. 6 Cosmetics R Us returned one of the five items purchased on August 3. The item could still be sold by NGS in the future and credit was given to the customer. Aug. 10 Val Amy used one of the three spa treatments she had purchased as part of the bundle sold to her on August 2. Aug. 20 Sold two at-home spa kits to Meghan Witzel for $490 cash. The goods cost NGS $191. Aug.22 Cosmetics R Us paid its remaining account balance in full. Journal entry worksheet Record the credit given to Cosmetics R Us for returning 1 item in perfect condition. Note: Enter debits before credits. General Journal Debit Credit Date Aug 06 Record entry Clear entry View general journal Journal entry worksheet Record the deferred revenue. Note: Enter debits before credits. General Journal Debit Credit Date Aug 10 Record entry Clear entry View general journal 2-a. Calculate the Sales Revenue and Cost of Goods Sold for the transactions listed above (but exclude Service Revenue for spa services). Sales Revenue Cost of Goods Sold 2-b. What is Nicole's Getaway Spa's gross profit percentage (excluding Service Revenue)? (Round your answer to 1 decimal place.) Gross Profit Percentage

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!